Today we have the longs that fomo again and again, but we no longer have the giant spikes above $100 million in liquidations, the largest is at $40 million around 13.4K
If the price has to move 1% to 5%, then we have more chance to go north before south, given the liquidations of the Shorts close to the price, and this is the scenario that I still maintain for the weekend waiting for the S&P 500 to open on Monday as I explained yesterday in the last post on Telegram Channel, or below in the end of this post here on P0x.
But if we will have a big movement between 10% to 20% in a day which is rare and especially on weekends, so we have more chance of going downstairs to empty the train of Longs which Fomo on the first green candle trying to catch the bottom.
A small rise this weekend on the BTC between 17K to 17.5K to trap the shorts, waiting for the Weekly open on Monday with the S&P 500 and the Dollar DXY.
The liquidity has accumulated above the last candles from 17K with the stops of the Shorts and especially with the large levers that can be seen clearly on the High Leverage liquidation map.
https://www.tradingview.com/x/K13hUUgb/
We have good news like the American consumer who consumes a lot, and just what he needs to live every day (food, drink, diesel...), but the problem is that it doesn't help the fed to lower interest rates, and soon the end of the year celebrations, that good news is bad for inflation, which will be forced the fed to raise interest rates.
The stock market is in doubt after the sharp fall in inflation, and now waiting for the next news like unemployment rates, inflation and interest rates, while BTC follows the movement in doubt with a liquidation map almost the same in the north as in the south.
I closed my 4 open shorts yesterday, as long as the market is in doubt, I prefer to wait to see the next ones that go fomo so as not to miss the train and at that time I would take a short if the map gives me the light green and also to see the TA.
I have forbidden myself to trade against the trend, and so much the better if we will have green soon, my long-term portfolio will take a bit of breath before diving afterwards or maybe not!!!
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